stuart: good morning. it is 10:00 eastern, wednesday, september 18th. decision day at the fed. c what is happening with your money? not much price change, the dow is down 100. no change for the s&p. people are waiting for the decision. will it be 25 or 50 basis points cut? we shall see. a stalemate on the market. the 10 year treasury yield is going up four basis points, 10 year, 368. the price of oil not doing much, $70 a barrel. bitcoin not doing much, 59-four right now. now this. kamala harris is not equipped to be the president of the united states.

she cannot answer the simplest of questions. we don't know what she would do if she reached the oval office. was seven weeks to the election that is not good enough. we can't vote blind and we can't accept the blatant misinformation she is peddling. tuesday harris answered questions from a national association of black journalists. she asked if people are better off than they were four years ago, she didn't answer directly. of course she didn't. and the biden/harris team's fault, she excused her own performance saying we came in during the worst unemployment since the great depression and we came in during the worst public health epidemic in centuries and trump's mismanagement is to blame. she has a the wrong way around. her fix was the massive spending spree that set up inflation, making people worse than they were four years ago. she was asked what she would do and the reply but the standard

line, i grew up in the middle class, that's not an answer, that the deflection. she admits grocery prices are too high but offers only a new generation of leadership. all of this in front of the friendliest questioning in any presidential campaign in history, the same black journalist the questioned donald trump and were extremely hostile. the harris campaign is teeing up a new basement strategy, softest of soft questions in the friendliest of venues. the live streaming event with oprah winfrey leaves the impression handlers are failing to create a viable candidate. of harris need so much protection, she's not equipped to be the president of the united states. second hour of varney just warming up. liz peek, will voters, this is a new basement strategy was are voters going to buy it?

lauren: i don't think so. every time we have a lapse, or ratings begin to go down because there's no news coming out of her campaign. if you start everything was let me start with this which i was born into a middle-class family, what is the news element? there isn't any. i think voters are going to press for more. whether she will provide it or not i don't know but honestly i cannot imagine how anyone votes for a candidate that until now is a complete blank slate, thrown two or three policy tidbits mostly very left-wing tax and regulatory issues. he can't defend the meant won't defend them and doesn't want to because she wants to run on this joy. that's what she's running on, july and the fact that people, a lot of people do not like donald trump. it is pathetic to me and honestly the media is her willing partner. if they were challenging her to

flesh out her programs, this could not go on but they are not. stuart: i like your new op-ed. harris wants to grow our broken government with elon musk, trump is thinking outside the box. i think you are right. elon musk is the perfect person to cut federal bureaucracy. >> not just about people but organization. when we have 47 job training programs dozens of aids-related programs. these things overlap. no legislator ever wants to take away a program. they add a new one. our government is a mess. of taxpayers knew how many trillions of dollars, some people say over $1 trillion completely wasted every year out of the $7 trillion budget, that's significant. a good friend of mine, philip howard, put out a piece talking about, remember we spent $7

billion, created seven ev charging stations, $42 billion for internet going to the rural communities, the 0 to show for it. the people in power particularly in this white house because they government employees, they have swelled the ranks of government employees, they have no appetite for this change. this is brilliant of donald trump. he should talk about it at every rally because every american knows that our government is bloated and inefficient. stuart: thanks for having -- thank you for being here on wednesday morning. house speaker mike johnson outlined his economic plans if trump wins the election. what he saying? >> reporter: lauren: speaker johnson outlined the priorities. >> we make sure our tax policy respects the dignity of work. it doesn't pay people for staying out of the workforce. we use our economic way to prioritize this country.

we will rollback green new deal regulations hand put america back in a place of energy dominance. we can reform our education system by maximizing school choice for parents and holding woke university administrators, we can pursue a policy of responsibility. we will stop mortgaging our children's future to fund today's big government bureaucracy. lauren: it is ambitious and we like it, he spoke about cutting government waste with the efficiency commission and using the tax code, by existing loopholes, by allowing migrants to proclaim childcare tax credits. stuart: thanks very much indeed. not much price change ahead of the big decision. bullish brian bellski. >> thank you.

stuart: if we get a 50 basis point cut will market selloff. >> we are so reactionary and probably not if we don't get 50 because the 14-year-old traders that have been so short-term, i can't help myself. stuart: younger than you. >> most people are younger than me. i'm not being flippant but a lot of people lack respect in this business. in our 30 for almost 35 years of doing this people look -- lost the fact that interest rates aren't going back to 0. the average ten year treasury is 5%, 75 years is 5% and we are turning to normalcy. here's the other perspective. in november of last year fed funds future said we 6 cuts in 2,024. how right where they? they weren't right. why give him credit this time

around? from our great economics department we say 25 basis points, six cuts to get us back to normal. that is a more regiment normal type of progression. 50 basis points, reactions and trying to get the market to do something. if they don't do 50 and a statement scares them, what can have our pool backward stocks lower at your end. stuart: you think it's a 25 year bull market and it continues. >> a lot of people think we are bullish all the time. in 2,007 we were the first strategists at another firm and very negative financials. in 2009 we said the market has begun. we refined the call and said we are heading into a secular bull market. we can have cyclical bulls and bears, we had a cyclical bear

in fourth quarter of 2018, cyclical bear in 2011. we've seen these periods before, it is starting next month. this will last three to five years. the original bull starting october 22, 2022. that was the first period when the new bull market started after the market corrected. the cyclical bull is a different cyclical bull because we are beginning to see broader participation. remember one thing. the stock market is the market of stocks. we give too much credit to macro stuff by good companies. when the market reacts like it did in august you want to build positions. stuart: does that include big tech? >> parts of big tech. we said for ten years that these big tech companies whether apple or microsoft and medication services companies,

the new consumer staples. go back to 95-96, the consumer staples we think these are the new consumer staples you have to have core positions on but that doesn't mean you shouldn't on oracle and palantir. stuart: technology is the basis of this economy, the basis of where we are in america. >> i think without technology we won't have this growth. without technology we won't have operating efficiency. if elon musk comes in we have to be more efficient as a government taking in this money. what do we having cash flow? return investment on the tax side. one of the major things we want to look at as an investment is return on equity and cash flow and invested capital. we need to see a better job of that.

stuart: good stuff. nice to have you back again. all day we will cover the fed's decision day, commercial free. from 1:00 to 4:00 eastern on fox business. lauren is looking at the movers. i want to start with boeing. lauren: it was in both directions. alaska is down by one. 4%. their ceo has seen improvement at boeing since the door plugging january, it does not expect to get the latest 737 max until the middle of 2026. that plane is waiting on approvals and the factory that makes it is shut down by the union strike. stuart: dollar 3. lauren: the dollar chains are on track to open 13 hounded -

1300 new locations this fiscal year. it says a lot about the economy for dollar general and going to one hundred $18 a share. stuart: dollar general, 218 from 86? that would be be a nice gain indeed. intuitive machines. lauren: they secured a 4. $8 billion nasa commitment to deploy satellite and cons, navigation systems, the stock is up 50%. stuart: i would take that. coming up, hotel in oakland just closed its doors after six decades in business, the latest victim in that crime-ridden city. the head of chevron writing into biden's fossil fuel policy saying he's putting politics over progress when it comes to ai. we will explain. at least 11 people are dead and thousands wounded after booby-trapped pages exploded across lebanon. hezbollah promises to get revenge on israel.

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stuart: 11 people dead and thousands more injured after hundreds of pagers owned by hezbollah simultaneously simultaneously floated across lebanon and parts of syria. mike tobin in tel aviv. has a blow is blaming israel. has israel responded to that? >> israel has not responded but us sources confirmed israel was indeed behind this attack. you mentioned the lebanese health ministry the casualty toll, they updated the figure

to 12 people who were killed, two our children just shy of 3000 people were injured inside of lebanon but pager explosions inside syria. write about 3:30 local time when the pagers started exploding get. a lot of injuries are consistent, to read the message, a lot of the injuries are to a person's waste where you would carry a pager if you were wearing one. hezbollah's chief said he ordered the rank-and-file to carry pagers. he once called smart phones listening devices that israel could use to spy on them. the explosion is more powerful than a battery going bad. trigger was installed in each pager. a taiwanese company called bold apollo said they licensed the company out of budapest which actually made the pagers.

the associated press said they are looking like a shell company. antony blinken is in the region and says the us did not get advanced warning. >> with regard to lebanon the united states did not know about nor was it involved in these incidents and we are still gathering information and facts. broadly speaking we've been very clear and remain very clear about the importance of all parties avoiding any steps that could further escalate the conflict we are trying to resolve in gaza. >> hezbollah is our retaliation with a statement reading this treacherous and common enemy will surely receive is just retribution from where it counts and from where it doesn't count. the north of israel is now on high alert for retaliation. the elite israeli paratroopers are moving from gaza to his

relapse north where rocket and drone fire is a part of every day. iran yesterday denied that there ambassador was injured in the pager at tax putting out a statement that he's proud his blood mingled with those lebanese people who were injured in the attack. stuart: thanks very much indeed. let me bring in keith kellogg. it seems to me this is a new era of warfare. a brilliant technical innovation. my question is where is it going? does any internet device become a possible attack vocal? >> the movie rights are pretty good. there was a unit involved. the james bond movies with q,

they put that together and they detonated them as well. go home tonight, three tablespoons, fill those up and the people that were heard anybody injured in this from hezbollah, local luber drivers, had a reason for carrying a beeper or pager and a brilliant move. in 1969, a program called eldest son, took ammunition and changed out the ammunition and made it more powerful, various north vietnamese locations with this ammunition which increased the chamber pressure of 45,20050,000, so the bell exploded. this is something that has been

done. it is just a progression of how you fight. this was a great move, how they infiltrate the supply-chain and set this up. if you're sitting in the middle east, i would throw away my pager. stuart: they attacked hezbollah's leadership and attacked hamas leadership inside tehran and attacks against hamas in gaza. is iran, has bland hamas, are they now deterred? >> i think deterrence is constant. you can't say one incident is a deterrence. there's a capability, can you do it? people and equipment.

and the will to do it, then deterrence is ineffective. that's what the israelis have done, they pushed back on iranian this, it's a constant battle they have to keep doing it. it keeps them up at night, really shows where israelis can go, the ability -- i'm sure the leader has a smile on his face. that unit is called unit 81, it makes it work, did a brilliant thing on this attack. stuart: thanks for joining us. check the markets. it is decision day at the fed. will be a 25 basis point cut? 50? i don't know. the market not doing much in advance of the decision. check big tech, mixed picture emerging, apple and alphabet up, amazon, nvidia, microsoft

down. the ceo of chevron says president biden could be getting in the way of ai advancements. how does he think of that? ashley: chevron's ceo says biden is attacking the natural gas industry at a time the role of permian natural gas will prove critical to help power the growth of artificial intelligence. the biden administration creating new plans to stop these power-hungry ai data centers from undercutting climate goals. chevron is one of the top players in the permian basin which is the biggest us oil field and a counselor 15% of the nation's gas, biden put a pause on approvals for future applications to export lng from new projects. a move that was cheered by climate activists but the chevron ceo says that increases

energy costs, threatens reliable supplies and slow down the switch from coal to natural gas leading to more emissions rather than less. stuart: thanks. how about this when? a cbs reporter shocks or cohosts with this revelation from battleground nevada. >> or a restaurant, are people willing to talk to us? we could only find one harris supporter in every restaurant. we left no stone unturned. stuart: host was stunned. we will see if ben domenech has the same reaction. the fed is expected to cut rates for the first time in four years joining me with a big prediction. is never easy, but starting it eight months pregnant..

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normally when we begin a rate cutting cycle, there is genuine weakness in the economy. we can't say we have genuine weakness in the economy when you created 140,000 jobs. my feeling is a quarterdeck. stuart: listen to what the director of the national economic council said about the republicans's economic agenda. >> for congressional republican proposals that would essentially lead to a $5 trillion addition to our national debt by extending all of the 2017 tax cuts for the wealthiest people and large corporations. they pose inflationary risks. stuart: she thinks it would make inflation worse. is that how you see it? >> reporter: that's the pot calling the kettle black.

think of how much money the democrats spend, when she was vice chairman at the federal reserve she was happily cranking out dollar bills to buy the bonds so if there was anyone experience with creating inflation by spending too much, it's lyle brainard. both are proposing unsustainable fiscal policies. the question is how much of it becomes law? i don't think a lot of it will become law because i don't think they will have the votes. also cooler heads will prevail come february. between kamala and donald trump there's not a lot of economic horse sense, they both would like to increase welfare programs and they both would like to spend more or cut taxes depending which one you pick. congress will be more sensible to be honest. stuart: trump is going to use

elon musk to root out waste and fraud in the federal your brea rock. that's a plus, isn't it? >> not as much as you think. federal bureaucracy is underfunded. they've been taking most of the hits from budgetary restraint for the last we 10 years. 60% of the budget is welfare payments. entitlements. then you have interest payments, defense budget and so forth. discretionary budget for the state department, international trade commission is not terribly large. that's why you experience problems like we do earlier this year with flight delays and computers don't work at the faa and things like that or you try to call the irs, they don't have the people. stuart: you are not getting out of anytime soon. >> 70 percentage cdp deficit is a mess. stuart: a huge mess. see you again later. let's go to edward lawrence

outside the white house. what does a rate cut mean for the election? >> reporter: the democrats would hope it would boost the economy, people feel more favorable for this. elizabeth warren sentra 75 basis cut. the debate is how deep will it cut? market see 50 basis cuts. 25 basis cuts during the jackson hole symposium but this is the comment that set expectations for the cut today. >> the time has come for policy to adjust. the direction of travel is clear. the timing and pace of rate cuts will depend on incoming data, the evolving outlook and balance of risks. >> reporter: the message from federal reserve members said there will be a slow methodical pace down for the rate cuts. the fed could cut 25 basis points and signal a deeper cut for the next meeting in november after the election.

it pushed prices 20% higher than the month the biden/harris administered and took office. >> does the president believe americans are better off now than they were four years ago? >> i understand what you're asking me. i get it. there's a lot of work to be done and we always said that. is that why the president and vice president are continuing to figure out how they lower costs. >> prices are too high, core inflation is 3.2%, it is a deeper cut on interest rates. stuart: thank you very much. we will be covering the fed decision day on fox business from 1:00 to 4:00 eastern, no commercial breaks. i want to start with dj t down 2.4%.

lauren: a survey of a dozen economists and investment strategists, 48% c kamala harris winning the election before the debate, 50% expected trump to win. harris is up 11 points, my opinion is 47 days until the election i think events that haven't happened yet might determine how you vote because it has been that crazy. stuart: arm holdings. lauren: william blair starts coverage, we see substantial growth in data centers and a new upgrade cycle for chips used in 98% smart phones. stuart: we should do a huge special on data centers. they are incredible. lauren: they need power. stuart: sleep apnea machine. lauren: down 5%.

wolf research downgraded to sell because of expect half of doctors to recommend fewer sleep apnea machines because of eli lilly's weight loss drugs because they can have sleep apnea. the fda's approval is bad, for the market. stuart: some workers of the new york times are threatening to strike on election day. there's a long list of demands including a 4-day work week. a ban on centered product in break rooms. right now, holding hearing our national security threats on the southern border. looking at the financial and human cost of biden's border crisis.

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stuart: more drama in the middle east. reports coming in that more communication devices like handheld radios and walkie-talkies, some have been exploding in lebanon. this comes after the pager explosions reported yesterday killing 12 and injuring thousands. real drama here. the justice department filed a lawsuit against the operator of the vessel that destroyed the bridge in baltimore. the doj wants $100 million in costs to reopen access to the port of baltimore. we have some red ink for the dow off 95, the nasdaq is up 30, no change at the s&p. bitcoin is under $60,000 a coin.

the homeland security committee is holding hearing on security threats coming from the southern border. >> the ranking member, they are laying bare the grim realities of the past. and opening remarks pointing fingers at each other. >> witness biden and harris's resistance to doing anything meaningful about this disaster, we have to ask why. >> at the direction of donald trump. block to the senate bipartisan border deal and they are refusing to move necessary border security. they don't want border security solutions.

>> the rev mother of rachel moran who was killed last year by an illegal immigrant, the mother blames on the biden harris administration. and as we look live at the hearing lawmakers also getting testimony from a border patrol chief in the san diego center which has become the epicenter for the border crisis, this as more than 8 million migrants were countered under the biden/harris administration. 237% increase over the trump years and the number of individuals hitting the terror watch list surge to record numbers. finally, ranking member thompson blasted donald trump's mass deportation plan we are hearing about on the campaign trail. recent polling is showing broad support for that plan with a majority of americans behind it including 1/4 of democrats.

stuart: griff jenkins in the middle of it. now this. one hotel in oakland, california closing its doors after 60 years in business. is this because of crime? >> things are stolen from guestrooms, cars broken into in the parking lot but hilton is insane, they are not saying why they are closing after 56 years, there airport location in oakland on hagan burger road, plagued with crime, business closures all along that strip. oakland lost sports teams, raters and the warriors, don't have fans coming in as much. 360,000 square feet owned by the port, what do you do with it? how do you make sure the homeless don't campout or turn it into a migrant shelter? stuart: what a mess. thank you. donald trump is vowing to bring back the tyreek hill -- salt

tax deduction. i will have a report on that coming up. kamala harris had a different experience with the national association of black journalists. watch this. >> you attack black journalists, calling them a loser. saying the questions they ask are stupid and racist. why should black voters trust you? >> why is it important to you to insert into this election? stuart: john levine has a lot to stay about that. it's a double standard, john is next. ♪ who gets married in napa? my daughter. who gets married someplace more expensive? my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans

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stuart: donald trump will hold a rally in long island could new york, he promised to bring back state and local tax deductions. brian yannis is in uniondale. the voters will be pleased to hear this. >> reporter: they are pleased to hear that salt could be making a comeback because uniondale is in nassau county, new york, one of the most expensive counties in america, in the middle of long island, new york.

donald trump signed that solve capping the salt deductions to $10,000 in 2017. take a look at his truth social, he is willing to repeal that. he said, quote, i will turn it around, lower your taxes, and so much more. the problem is republicans have been against repealing the salt because they view salt as a means to pay for larger tax cuts. tonight trump is hosting his first rally on long island since 2017. new york could decide if republicans maintain control of the house. new york is solidly a blue state but trump's visit could boost republicans in key races especially three congressional seats they flipped red in 2022. they are trying to get back the seat they lost after george santos dropped out. you can see people are lined up. they've been lined up, some

started lining up since midnight tuesday. they expect 60,000 people inside, this is under heightened security following the second assassination attempt against the former president. spoke about the assassination attempt and the security that's now in place last night with hannity. >> we have rallies, 50, 60,000, in new jersey, one hundred 7,000 people showed up. there's never been anything like it. we 've long requested more people. for security. we never seem to get that. i think we are getting it now. some but he told me they will be providing more people now. >> reporter: nassau county says security will be airtight, a small army of local, state, and federal agencies helping out. stuart: back in july trump was

questioned by the national association of black journalists, listen to how he was treated. >> you attack black journalists, calling them losers, saying the questions they ask are, quote, stupid and racist, you had dinner with a white supremacist at your mar-a-lago resort. my question now that you are asking black supporters to vote for you why should black voters trust you? stuart: that was kind of nasty but this time around black journalists were not nearly as critical at harris. >> republicans have weapon eyes you laughing in campaign ads for example. why is joy important to you to insert into this election? what do you make of republicans using that as a way to suggest you are not a serious candidate? stuart: different kind of treatment. john levine jointly.

a clear case of media bias. >> i would say it is but is anyone surprised? regular viewers of fox news can see the press wants kamala harris to win and the national association of black journalists are predisposed to kamala harris because she would be the first black woman president and trump would not be. i think he needs to win in spite of this. i don't remember but president reagan, the media piled on him in the 1980 campaign, he won 49 states so trump needs to make the argument without the help of the media and its baked into the cake the press is hostile. they need to make their case to the american people and define kamala harris because the media will not do the job for him. stuart: i want to talk about the new york times, the tech union threatened to strike on election day. a series of bizarre demands. they want things like pet bereavement leave, four day work week at a ban on centered

products in break rooms. woke lives at the new york times. >> pet bereavement is great. mandatory trigger warnings and company meetings on sensitive subjects was in the original -- these are like if you put into chatterjee pt, come up with crazy woke union ideas it would spit these out and it is true, that's what they want. what you have to remember is this is the most powerful news institution in our country or the world. these are people when my mother reads the new york times, the ones informing, it's disturbing that this is the culture it comes out of. stuart: my first time back there in 30 years. i saw our clean will run city. they seem relatively calm. then i returned to new york city. new york is in crisis. london has gotten it right.

new york has not. >> i can't speak to what london is doing. if you come here illegally, we will give you are credit card, the city will cover that. no hotel stock, hotel rooms are more expensive because migrants are taking up so much of it. we created a dangerously inviting environment and migrants are reacting accordingly, not seeing them going to oklahoma because they don't have that. stuart: 30 seconds, you went to berlin. >> i was in berlin with my father and we both tried to go to the jewish museum from berlin and two different cabdrivers refused to take us. stuart: got to get into that later because i've got to go but that was extraordinary stuff. the 11:00 hour of "varney and company" is next.

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>> the reason she's not answering the question though is, a, she doesn't really have the skills for this -- >> investors would initially throw a tantrum, the market would sell off. however, i do think the bull market would stay intact if it's